The 30-share index was trading higher by 258.77 points or 0.79 per cent at 32,855.95 at 1115hrs. The broader Nifty was trading above the key 10,100-level, up by 83.25 points or 0.83 per cent at 10,127.35.

Major gainers were NTPC 2.20 per cent, Maruti 2.16 per cent, Tata Steel 2.08 per cent, Bajaj Auto 1.95 per cent and L&T 1.66 per cent.

US stocks ended mixed on Wednesday. -- Rupee rules flat against dollar -- The rupee is trading almost flat at 64.54 per dollar in late morning deals following mild bouts of dollar buying by importers and banks amid higher domestic equities.

The domestic unit opened higher at 64.51 per dollar as against the Wednesday's closing level of 64.52 per dollar at the interbank forex market.

It witnessed see-saw momentum, hovering between a high of 64.49 and low of 64.57 per dollar during morning deals.

It was quoting at 64.54 per dollar at 1130 hrs. Globally, the US dollar was up against major rivals in early Asian trade, shaking off earlier losses versus the yen amid optimism on US tax reforms.